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but congress can undo those tax hikes if the house passes the senate's bill. vice president biden, who was instrumental in brokering the deal, told reporters he's hopeful it can get through the house but you never know. >> you shouldn't predict how the senate will vote before they vote and number two, you surely shouldn't predict how the house is going to vote. >> reporter: it would extend tax cuts for all workers earning under $400,000 and raise taxes on people above that level and prevent a big tax hike in an estate valued at less than $5 million and extend unemployment benefits for 2 million people. the house will take it up later this morning, the hope is that chamber can pass it before the economy is rocked by the tax hikes. >> happy new year. i feel very, very good. >> reporter: president obama called the senate vote the right thing to do for the country and he encouraged the house to pass it right away. >> all right, abc's tahman bradley reporting from washington. thanks. have a very happy new year. we know you're going to be today, tahman. >> same to y
but congress can undo those tax hikes if the house passes the senate's bill. vice president biden, who was instrumental in brokering the deal, told reporters he's hopeful it can get through the house but you never know. >> you shouldn't predict how the senate will vote before they vote and number two, you surely shouldn't predict how the house is going to vote. >> reporter: it would extend tax cuts for all workers earning under $400,000 and raise taxes on people above that level and...
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extending tax cuts for those making $250,000 or less. and continuing unemployment benefits for the millions who will lose them when the new year strikes. >> that's the bare minimum that we should be able to get done. >> reporter: it's clear whatever happens, there is no time, now, for a grand bargain on the even tougher issues. cutting spending and raising the debt ceiling. >> we're going to end up with a small, kick the can down the road bill, that creates another fiscal cliff to deal with this fiscal cliff. how irresponsible is that? >> reporter: and as washington's still, the stock market burns. dropping for a sixth-straight day under all this uncertainty. americans are burning up, too. >> this is america. they should be working for the american people. >> the parties are trying to outdo each other. >> can't believe we got this close. >> get in a room and don't come out of the room until you've got this thing taken care of. >> reporter: now, senate leaders say they hope to have a plan they can bring to the senate tomorrow. and by tomo
extending tax cuts for those making $250,000 or less. and continuing unemployment benefits for the millions who will lose them when the new year strikes. >> that's the bare minimum that we should be able to get done. >> reporter: it's clear whatever happens, there is no time, now, for a grand bargain on the even tougher issues. cutting spending and raising the debt ceiling. >> we're going to end up with a small, kick the can down the road bill, that creates another fiscal...
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estate tax in familiar. and it was at 35% right now. democrats wanted to raise it to 45%. it looks like it will be 40%, beginning with $5 million. above my head. >> senate getting ready to vote now and then goes to the house and we'll see what happens there. >> yes. and they reconvene at noon today. no football games for them, right? >>> this holiday will be another day in the hospital for secretary of state hillary clinton after doctors discovered a blood clot in her head. she's being treated in a manhattan hospital. wendy has the latest from new york. >> reporter: hillary clinton's doctors say they detected a clot in the vein between her brain and skull. >> if it dislodges, it could cause a stroke. doctors say there's no sign of that right now. >> reporter: it did not result in a stroke or neurological damage. she's being treated with blood thinners to help dissolve the clot. she's expected to make a full recovery. the doctors add that she's in good spirits and is making excellent progress. clinton's medic
estate tax in familiar. and it was at 35% right now. democrats wanted to raise it to 45%. it looks like it will be 40%, beginning with $5 million. above my head. >> senate getting ready to vote now and then goes to the house and we'll see what happens there. >> yes. and they reconvene at noon today. no football games for them, right? >>> this holiday will be another day in the hospital for secretary of state hillary clinton after doctors discovered a blood clot in her head....
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12/12
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with incomes of $174,000, they'll pay some $7,500 more in taxes. and it's not just taxes. on january 1, unemployment benefits expire for some 2 million people. you can expect one last effort, including a meeting at the white house with congressional leaders to try to prevent the fiscal cliff from happening. but with just four days left until everybody's taxes go up, there's not a lot of optimism that it can be done in time. jonathan karl, abc news, new york. >>> tributes are pouring in for retired general norman schwarzkopf. the general, nicknamed stormin' norman, died yesterday in tampa from pneumonia. schwarzkopf commanded operation desert storm, the coalition of some 30 countries that drove iraqi forces from kuwait back in 1991. in retirement, he supported charitable causes and resisting calls to run for public office. norman schwarzkopf was 78. >>> for the second time this month, a man has been pushed to his death in the path of a new york subway train. last night, eyewitnesss say a mumbling woman shoved a man onto the tracks just as the train was pulling into an eleva
with incomes of $174,000, they'll pay some $7,500 more in taxes. and it's not just taxes. on january 1, unemployment benefits expire for some 2 million people. you can expect one last effort, including a meeting at the white house with congressional leaders to try to prevent the fiscal cliff from happening. but with just four days left until everybody's taxes go up, there's not a lot of optimism that it can be done in time. jonathan karl, abc news, new york. >>> tributes are pouring in...
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Dec 27, 2012
12/12
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obama and congress can reach a deal by the new year, across-the-board tax increases and deep spending cuts will be automat liically taking effect. and while the president takes his red-eye flight back here to d.c., the first lady and their daughters are staying in hawaii. >> the first couple sat down with our very own barbara walters before their vacation. we pick up their conversation with talk about their family. >> i want to talk a bit about the girls. we've been watching them grow up from little girls to young ladies. malia recently got her first cell phone. do you monitor it and see who she calls or who she texts? >> i give my daughter, at this age, i give her a long rope. and there is monitoring, because we have rules. but monitoring may be, you never know when i'm going to walk in your room and i'm going to definitely ask you, who are you talking to? and are you talking about school work? >> and they're not very good at lying. we joke sometimes about how malia is getting to the age now, boys start calling and sort of -- i always talk about how one of the main incentives for run
obama and congress can reach a deal by the new year, across-the-board tax increases and deep spending cuts will be automat liically taking effect. and while the president takes his red-eye flight back here to d.c., the first lady and their daughters are staying in hawaii. >> the first couple sat down with our very own barbara walters before their vacation. we pick up their conversation with talk about their family. >> i want to talk a bit about the girls. we've been watching them...